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seems to be. Father's worried about something.'

'He looked as if he'd got the hump rather at dinner.'

'I only got here this afternoon, about three hours before you did. I had a bit of a talk with him before dinner. I can't make out what's up. He seemed awfully keen on my finding something to do now I've come down from Oxford. Wanted to know whether I couldn't get a tutoring job or a mastership at some school next term. I said I'd have a shot. I don't see what all the hurry's about, though. I was hoping he'd give me a bit of travelling on the Continent somewhere before I started in.'

'Rough luck,' said Mike. 'I wonder why it is. Jolly good about Joe, wasn't it? Let's have fifty up, shall we?'

Bob's remarks had given Mike no hint of impending disaster. It seemed strange, of course, that his father, who had always been so easy-going, should have developed a hustling Get On or Get Out spirit, and be urging Bob to Do It Now; but it never occurred to him that there could be any serious reason for it. After all, fellows had to start working some time or other. Probably his father had merely pointed this out to Bob, and Bob had made too much of it.

Half-way through the game Mr Jackson entered the room, and stood watching in silence.

'Want a game, father?' asked Mike.

'No, thanks, Mike. What is it? A hundred up?'

'Fifty.'

'Oh, then you'll be finished in a moment. When you are, I wish you'd just look into the study for a moment, Mike. I want to have a talk with you.'

'Rum,' said Mike, as the door closed. 'I wonder what's up?'

For a wonder his conscience was free. It was not as if a bad school-report might have arrived in his absence. His Sedleigh report had come at the beginning of the holidays, and had been, on the whole, fairly decentβ€”nothing startling either way. Mr Downing, perhaps through remorse at having harried Mike to such an extent during the Sammy episode, had exercised a studied moderation in his remarks. He had let Mike down far more easily than he really deserved. So it could not be a report that was worrying Mr Jackson. And there was nothing else on his conscience.

Bob made a break of sixteen, and ran out. Mike replaced his cue, and walked to the study.

His father was sitting at the table. Except for the very important fact that this time he felt that he could plead Not Guilty on every possible charge, Mike was struck by the resemblance in the general arrangement of the scene to that painful ten minutes at the end of the previous holidays, when his father had announced his intention of taking him away from Wrykyn and sending him to Sedleigh. The resemblance was increased by the fact that, as Mike entered, Mr Jackson was kicking at the waste-paper basketβ€”a thing which with him was an infallible sign of mental unrest.

'Sit down, Mike,' said Mr Jackson. 'How did you get on during the week?'

'Topping. Only once out under double figures. And then I was run out. Got a century against the Green Jackets, seventy-one against the Incogs, and today I made ninety-eight on a beast of a wicket, and only got out because some silly goat of a chapβ€”'

He broke off. Mr Jackson did not seem to be attending. There was a silence. Then Mr Jackson spoke with an obvious effort.

'Look here, Mike, we've always understood one another, haven't we?'

'Of course we have.'

'You know I wouldn't do anything to prevent you having a good time, if I could help it. I took you away from Wrykyn, I know, but that was a special case. It was necessary. But I understand perfectly how keen you are to go to Cambridge, and I wouldn't stand in the way for a minute, if I could help it.'

Mike looked at him blankly. This could only mean one thing. He was not to go to the 'Varsity. But why? What had happened? When he had left for the Smith's cricket week, his name had been down for King's, and the whole thing settled. What could have happened since then?

'But I can't help it,' continued Mr Jackson.

'Aren't I going up to Cambridge, father?' stammered Mike.

'I'm afraid not, Mike. I'd manage it if I possibly could. I'm just as anxious to see you get your Blue as you are to get it. But it's kinder to be quite frank. I can't afford to send you to Cambridge. I won't go into details which you would not understand; but I've lost a very large sum of money since I saw you last. So large that we shall have to economize in every way. I shall let this house and take a much smaller one. And you and Bob, I'm afraid, will have to start earning your living. I know it's a terrible disappointment to you, old chap.'

'Oh, that's all right,' said Mike thickly. There seemed to be something sticking in his throat, preventing him from speaking.

'If there was any possible wayβ€”'

'No, it's all right, father, really. I don't mind a bit. It's awfully rough luck on you losing all that.'

There was another silence. The clock ticked away energetically on the mantelpiece, as if glad to make itself heard at last. Outside, a plaintive snuffle made itself heard. John, the bull-dog, Mike's inseparable companion, who had followed him to the study, was getting tired of waiting on the mat. Mike got up and opened the door. John lumbered in.

The movement broke the tension.

'Thanks, Mike,' said Mr Jackson, as Mike started to leave the room, 'you're a sportsman.'







3. The New Era Begins

Details of what were in store for him were given to Mike next morning. During his absence at Ilsworth a vacancy had been got for him in that flourishing institution, the New Asiatic Bank; and he was to enter upon his duties, whatever they might be, on the Tuesday of the following week. It was short notice, but banks have a habit of swallowing their victims rather abruptly. Mike remembered the case of Wyatt, who had had just about the same amount of time in which to get used to the prospect of Commerce.

On the Monday morning a letter arrived from Psmith. Psmith was still perturbed. 'Commerce,' he wrote, 'continues to boom. My pater referred to Comrade Bickersdyke last night as a Merchant Prince. Comrade B. and I do not get on well together. Purely for his own good, I drew him aside yesterday and explained to him at great length the frightfulness of walking across the bowling-screen. He seemed restive, but I was firm. We parted rather with the Distant Stare than the Friendly Smile. But I shall persevere. In many ways the casual observer would say that he was hopeless. He is

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